Dear Students,

Calculate and interpret the two companies (APPLE) and (Axon) ratios (two years). Just the group of ratios mentioned in the grade center column. (Efficiency Ratios), (profitability ratios)

So you will upload your calculation and the interpretations.

Apple RATIOS

AXON company RATIOS

Apple Inc (AAPLUS) - Adjusted income statment In Millions of USD except Per Share FY 2017 12 Months Ending 09/30/2017 Revenue 228,594.0 + Sales & Services Revenue 228,594.0 - Cost of Revenue 141,048.0 + Cost of Goods & Services 141,048.0 Gross Profit 87,546.0 + Other Operating Income 0.0 - Operating Expenses 26,842.0 + Selling, General & Admin 15,261.0 + Research & Development 11,581.0 + Other Operating Expense 0.0 Operating Income (Loss) 60,704.0 - Non-Operating (Income) Loss -2,646.0 + Interest Expense, Net -2,878.0 + Interest Expense 2,323.0 - Interest Income 5,201.0 + Foreign Exch (Gain) Loss 0.0 + Other Non-Op (Income) Loss 232.0 Pretax Income (Loss), Adjusted 63,350.0 - Abnormal Losses (Gains) -739.0 + Legal Settlement + Unrealized Investments -99.0 + Other Abnormal Items -640.0 Pretax Income (Loss), GAAP 64,089.0 - Income Tax Expense (Benefit) 15,738.0 + Current Income Tax 9,772.0 + Deferred Income Tax 5,966.0 Income (Loss) from Cont Ops 48,351.0 - Net Extraordinary Losses (Gains) 0.0 + Discontinued Operations 0.0 + XO & Accounting Changes 0.0 Income (Loss) Incl. MI 48,351.0 - Minority Interest 0.0 Net Income, GAAP 48,351.0 - Preferred Dividends 0.0 - Other Adjustments 0.0 Net Income Avail to Common, GAAP 48,351.0 FY 2018 09/29/2018 265,595.0 265,595.0 163,756.0 163,756.0 101,839.0 0.0 31,177.0 16,705.0 14,236.0 236.0 70,662.0 -1,985.0 -2,446.0 3,240.0 5,686.0 0.0 461.0 72,647.0 -256.0 -236.0 -20.0 72,903.0 13,372.0 45,962.0 -32,590.0 59,531.0 0.0 0.0 0.0 59,531.0 0.0 59,531.0 0.0 0.0 59,531.0 Net Income Avail to Common, Adj Net Abnormal Losses (Gains) Net Extraordinary Losses (Gains) 47,870.7 -480.4 0.0 59,328.8 -202.2 0.0 Basic Weighted Avg Shares Basic EPS, GAAP Basic EPS from Cont Ops Basic EPS from Cont Ops, Adjusted 5,217.2 9.27 9.27 9.18 4,955.4 12.01 12.01 11.97 Diluted Weighted Avg Shares income statment5,251.7 Diluted EPS, GAAP 9.21 Diluted EPS from Cont Ops 9.21 Diluted EPS from Cont Ops, Adjusted 9.12 5,000.1 11.91 11.91 11.87 Reference Items Accounting Standard EBITDA EBITDA Margin (T12M) EBITA EBIT Gross Margin Operating Margin Profit Margin Sales per Employee Dividends per Share Total Cash Common Dividends Capitalized Interest Expense Depreciation Expense Rental Expense Source: Bloomberg US GAAP US GAAP 70,861.0 81,565.0 31.00 30.71 62,661.0 72,265.0 60,704.0 70,662.0 38.30 38.34 26.56 26.61 20.94 22.34 1,858,487.80 2,012,083.33 2.40 2.72 12,563.0 13,478.6 8,200.0 1,100.0 9,300.0 1,200.0 FY 2017 09/30/2017 FY 2018 09/29/2018 74,181.0 20,289.0 53,892.0 17,874.0 17,874.0 0.0 4,855.0 66,301.0 25,913.0 40,388.0 23,186.0 23,186.0 0.0 3,956.0 31,735.0 37,896.0 Apple Inc (AAPL US) - Standardized Balancesheet In Millions of USD except Per Share FY 2016 12 Months Ending 09/24/2016 Total Assets + Cash, Cash Equivalents & STI 67,155.0 + Cash & Cash Equivalents 20,484.0 + ST Investments 46,671.0 + Accounts & Notes Receiv 15,754.0 + Accounts Receivable, Net 15,754.0 + Notes Receivable, Net 0.0 + Inventories 2,132.0 + Raw Materials + Work In Process + Finished Goods + Other Inventory + Other ST Assets 21,828.0 + Prepaid Expenses + Derivative & Hedging Assets 1,399.0 + Deferred Tax Assets + Misc ST Assets 20,429.0 Total Current Assets 106,869.0 + Property, Plant & Equip, Net 27,010.0 + Property, Plant & Equip 61,245.0 - Accumulated Depreciation 34,235.0 + LT Investments & Receivables 170,430.0 + LT Marketable Securities 170,430.0 + Other LT Assets 17,377.0 + Total Intangible Assets 8,620.0 + Goodwill 5,414.0 + Other Intangible Assets 3,206.0 + Prepaid Expense + Deferred Tax Assets + Derivative & Hedging Assets 0.0 + Misc LT Assets 8,757.0 Total Noncurrent Assets 214,817.0 Total Assets 321,686.0 1,630.0 1,274.0 30,105.0 128,645.0 33,783.0 75,076.0 41,293.0 194,714.0 194,714.0 18,177.0 8,015.0 5,717.0 2,298.0 36,622.0 131,339.0 41,304.0 90,403.0 49,099.0 170,799.0 170,799.0 22,283.0 0.0 10,162.0 246,674.0 375,319.0 0.0 22,283.0 234,386.0 365,725.0 Liabilities & Shareholders' Equity + Payables & Accruals + Accounts Payable + Accrued Taxes + Interest & Dividends Paya + Other Payables & Accruals + ST Debt + ST Borrowings + ST Lease Liabilities + ST Finance Leases + Current Portion of LT Debt + Other ST Liabilities + Deferred Revenue + Derivatives & Hedging + Misc ST Liabilities Total Current Liabilities 58,245.0 37,294.0 0.0 0.0 20,951.0 11,605.0 8,105.0 0.0 0.0 3,500.0 9,156.0 8,080.0 1,076.0 0.0 79,006.0 73,230.0 49,049.0 0.0 0.0 24,181.0 18,473.0 11,977.0 0.0 0.0 6,496.0 9,111.0 7,548.0 1,563.0 0.0 100,814.0 53,752.0 55,888.0 0.0 0.0 -2,136.0 20,748.0 11,964.0 0.0 0.0 8,784.0 41,429.0 5,966.0 2,136.0 33,327.0 115,929.0 + LT Debt balance sheet + LT Borrowings + LT Lease Liabilities +LT Finance Leases + Other LT Liabilities + Accrued Liabilities + Pension Liabilities + Pensions + Other Post-Ret Benefits + Deferred Revenue + Deferred Tax Liabilities + Derivatives & Hedging + Misc LT Liabilities Total Noncurrent Liabilities Total Liabilities + Preferred Equity and Hybrid Capital + Share Capital & APIC + Common Stock + Additional Paid in Capital - Treasury Stock + Retained Earnings + Other Equity Equity Before Minority Interest + Minority/Non Controlling Interest Total Equity Total Liabilities & Equity 75,427.0 75,427.0 0.0 0.0 39,004.0 0.0 0.0 0.0 0.0 2,930.0 31,921.0 0.0 4,153.0 114,431.0 193,437.0 97,207.0 97,207.0 0.0 0.0 43,251.0 0.0 0.0 0.0 0.0 2,836.0 36,562.0 0.0 3,853.0 140,458.0 241,272.0 0.0 35,867.0 0.1 35,866.9 0.0 98.330.0 -150.0 134,047.0 0.0 134,047.0 375,319.0 93,735.0 93,735.0 0.0 0.0 48,914.0 0.0 0.0 0.0 0.0 2,797.0 275.0 0.0 45,842.0 142,649.0 258,578.0 0.0 40,201.0 0.0 40,201.0 0.0 70,400.0 -3,454.0 107,147.0 0.0 107,147.0 365,725.0 0.0 31,251.0 0.1 31,250.9 0.0 96,364.0 634.0 128,249.0 0.0 128,249.0 321,686.0 US GAAP 5,336.2 0.0 0.0 7,627.0 0.0 US GAAP 5,126.2 0.0 0.0 9,545.0 0.0 4,755.0 0.0 0.0 9,627.0 0.0 Reference Items Accounting Standar Shares Outstanding Number of Treasury Shares Pension Obligations Future Minimum Operating Lease Obligations Capital Leases - Total Options Granted During Period Options Outstanding at Period End Net Debt Net Debt to Equity Tangible Common Equity Ratio Current Ratio Cash Conversion Cycle Cash Held Overseas Number of Employees Source: Bloomberg -122,617.0 -114.44 -150,553.0 -117.39 38.21 1.35 -67.27 216,000.0 116,000.00 -153,215.0 -114.30 34.31 1.28 -75.00 252,300.0 123,000.00 1.13 -79.34 132,000.00 FY 2018 09/29/2018 Apple Inc (AAPL US) - Standardized cash flow In Millions of USD except Per Share FY 2017 12 Months Ending 09/30/2017 Cash from Operating Activities + Net Income 48,351.0 + Depreciation & Amortization 10,157.0 + Non-Cash Items 6,447.0 + Stock-Based Compensation 4,840.0 + Deferred Income Taxes 5,966.0 + Other Non-Cash Adj 4,359.0 + Chg in Non-Cash Work Cap -730.0 + (Inc) Dec in Accts Receiv -6,347.0 + (Inc) Dec in Inventories -2,723.0 + Inc (Dec) in Accts Payable 8,966.0 + Inc (Dec) in Other -626.0 + Net Cash From Disc Ops 0.0 Cash from Operating Activities 64,225.0 59,531.0 10,903.0 10,373.0 5,340.0 -32,590.0 37,623.0 -3,373.0 -13,332.0 828.0 9,175.0 -44.0 0.0 77,434.0 -12,451.0 0.0 -13,313.0 0.0 0.0 0.0 0.0 -13,313.0 -13,313.0 0.0 0.0 Cash from Investing Activities + Change in Fixed & Intang + Disp in Fixed & Intang + Disp of Fixed Prod Assets + Disp of Intangible Assets + Acq of Fixed & Intang + Acq of Fixed Prod Assets + Acq of Intangible Assets + Net Change in LT Investment + Dec in LT Investment + Inc in LT Investment + Net Cash From Acq & Div + Cash from Divestitures + Cash for Acq of Subs + Cash for JVs + Other Investing Activities + Net Cash From Disc Ops Cash from Investing Activities 0.0 0.0 0.0 -12,451.0 -12,451.0 0.0 0.0 0.0 0.0 -329.0 0.0 -329.0 0.0 -33,666.0 0.0 46,446.0 -721.0 0.0 -721.0 0.0 30,100.0 0.0 16,066.0 Cash from Financing Activities + Dividends Paid + Cash From (Repayment) Debt + Cash From (Repay) ST Debt + Cash From LT Debt + Repayments of LT Debt + Cash (Repurchase) of Equity + Increase in Capital Stock + Decrease in Capital Stock + Other Financing Activities + Net Cash From Disc Ops Cash from Financing Activities -12,769.0 29,014.0 3,852.0 28,662.0 -3,500.0 -32,345.0 555.0 -32,900.0 -1,874.0 0.0 -17,974.0 -13,712.0 432.0 -37.0 6,969.0 -6,500.0 -72,069.0 669.0 -72,738.0 -2,527.0 0.0 -87,876.0 Effect of Foreign Exchange Rates 0.0 0.0 Net Changes in Cash -195.0 5,624.0 Cash Paid for Taxes Cash Paid for Interest cashflow 11,591.0 2,092.0 10,417.0 3,022.0 71,501.0 31.19 329.0 81,801.0 30.80 721.0 Reference Items EBITDA Trailing 12M EBITDA Margin Net Cash Paid for Acquisitions Tax Benefit from Stock Options Free Cash Flow Free Cash Flow to Firm Free Cash Flow to Equity Free Cash Flow per Basic Share Price to Free Cash Flow Cash Flow to Net Income Source: Bloomberg 51,774.0 53,526.6 80,788.0 9.92 15.53 1.33 64,121.0 66,766.7 64,553.0 12.94 17.45 1.30 - Axon Enterprise Inc (AAXN US) - Adjusted income statment In Millions of USD except Per Share FY 2017 FY 2018 12 Months Ending 12/31/2017 12/31/2018 Revenue 343.8 420.1 + Sales & Services Revenue 343.8 420.1 - Cost of Revenue 136.7 161.5 + Cost of Goods & Services 136.7 161.5 Gross Profit 207.1 258.6 + Other Operating Income 0.0 0.0 - Operating Expenses 192.3 228.6 + Selling, General & Admin 138.7 156.9 + Research & Development 55.4 76.9 + Other Operating Expense -1.8 -5.1 Operating Income (Loss) 14.8 30.0 - Non-Operating (Income) Loss -2.7 -3.3 + Interest Expense, Net -2.7 -3.3 + Interest Expense 0.1 - Interest Income 3.3 + Foreign Exch (Gain) Loss 0.0 0.0 + (Income) Loss from Affiliates + Other Non-Op (Income) Loss 0.0 0.0 Pretax Income (Loss), Adjusted 17.5 33.2 - Abnormal Losses (Gains) 1.8 5.1 + Merger/Acquisition Expense 1.7 + Disposal of Assets 1.8 3.1 + Asset Write-Down + Impairment of Goodwill + Legal Settlement + Restructuring + Other Abnormal Items 0.3 Pretax Income (Loss), GAAP 15.8 28.1 - Income Tax Expense (Benefit) 10.6 -1.1 + Current Income Tax 8.0 6.5 + Deferred Income Tax 2.8 -8.7 + Tax Allowance/Credit -0.2 1.1 Income (Loss) from Cont Ops 5.2 29.2 - Net Extraordinary Losses (Gains) 0.0 0.0 + Discontinued Operations 0.0 0.0 + XO & Accounting Changes 0.0 0.0 Income (Loss) Incl. MI 5.2 29.2 - Minority Interest 0.0 0.0 Net Income, GAAP 5.2 29.2 - Preferred Dividends 0.0 0.0 - Other Adjustments 0.0 0.0 Net Income Avail to Common, GAAP 5.2 29.2 3 33.2 Net Income Avail to Common, Adj Net Abnormal Losses (Gains) Net Extraordinary Losses (Gains) 14.4 9.2 0.0 4.0 0.0 56.4 0.52 Basic Weighted Avg Shares income statment Basic EPS, GAAP Basic EPS from Cont Ops Basic EPS from Cont Ops, Adjusted 52.7 0.10 0.10 0.27 0.52 0.59 53.9 0.10 57.9 0.50 Diluted Weighted Avg Shares Diluted EPS, GAAP Diluted EPS from Cont Ops Diluted EPS from Cont Ops, Adjusted 0.10 0.27 0.50 0.57 US GAAP 23.5 Reference Items Accounting Standard EBITDA EBITDA Margin (T12M) EBITA EBIT Gross Margin Operating Margin Profit Margin Sales per Employee Dividends per Share Total Cash Common Dividends Capitalized Interest Expense Depreciation Expense Rental Expense Source: Bloomberg 6.83 20.1 14.8 60.24 4.30 4.18 362,273.97 0.00 0.0 0.0 US GAAP 40.6 9.67 35.7 30.0 61.56 7.13 7.91 363,695.24 0.00 0.0 0.0 3.4 4.9 2.9 4.2 Axon Enterprise Inc (AAXN US) - Standardized FY 2017 12/31/2017 FY 2018 12/31/2018 82.0 75.1 6.9 349.5 349.5 0.0 130.6 56.1 45.5 20.1 0.0 25.3 0.0 21.7 0.0 33.8 19.7 0.0 14.1 0.0 44.4 0.0 balance sheet In Millions of USD except Per Share FY 2016 12 Months Ending 12/31/2016 Total Assets + Cash, Cash Equivalents & STI 89.1 + Cash & Cash Equivalents 40.7 + ST Investments 48.4 + Accounts & Notes Receiv 39.5 + Accounts Receivable, Net + Notes Receivable, Net + Inventories 34.8 + Raw Materials 18.0 + Work In Process 0.0 + Finished Goods 16.8 + Other Inventory 0.0 + Other ST Assets 13.9 + Derivative & Hedging Assets 0.0 + Deferred Tax Assets + Misc ST Assets 13.9 Total Current Assets 177.2 + Property, Plant & Equip, Net 24.0 + Property, Plant & Equip 61.8 - Accumulated Depreciation 37.8 + LT Investments & Receivables 17.8 + LT Investments 0.2 + LT Receivables 17.6 + Other LT Assets 59.1 - Total Intangible Assets 25.7 + Goodwill 10.4 + Other Intangible Assets 15.2 + Deferred Tax Assets 19.5 + Derivative & Hedging Assets 0.0 + Misc LT Assets 13.9 Total Noncurrent Assets 100.9 Total Assets 278.2 21.7 205.2 31.2 67.6 36.5 36.9 0.0 36.9 64.9 33.8 14.9 18.8 15.8 0.0 44.4 558.2 37.9 77.8 39.9 40.2 0.0 40.2 83.3 40.9 25.0 15.9 19.3 0.0 15.4 132.9 338.1 23.0 161.4 719.5 29.0 10.7 32.1 8.6 56.3 15.2 4.2 4.6 2.6 13.7 Liabilities & Shareholders' Equity + Payables & Accruals + Accounts Payable + Accrued Taxes + Interest & Dividends Payable + Other Payables & Accruals + ST Debt + ST Borrowings + ST Lease Liabilities + ST Finance Leases + Current Portion of LT Debt + Other ST Liabilities 1.7 20.9 1.7 0.0 36.9 0.0 0.0 0.0 | 1.7 1.7 47.4 0.0 109.8 74.2 45.1 0.0 2.2 78.0 0.0 70.4 0.0 3.8 108.0 0.0 0.0 107.0 0.0 2.7 166.0 0.0 0.0 62.7 0.0 0.0 + Deferred Revenue balance sheet + Derivatives & Hedging + Misc ST Liabilities Total Current Liabilities + LT Debt + LT Borrowings + LT Lease Liabilities +LT Finance Leases + Other LT Liabilities + Accrued Liabilities + Pension Liabilities + Pensions + Other Post-Ret Benefits + Deferred Revenue + Derivatives & Hedging + Misc LT Liabilities Total Noncurrent Liabilities Total Liabilities + Preferred Equity and Hybrid Capital + Share Capital & APIC + Common Stock + Additional Paid in Capital - Treasury Stock + Retained Earnings + Other Equity Equity Before Minority Interest + Minority/Non Controlling Interest Total Equity Total Liabilities & Equity 0.0 0.0 54.9 0.0 7.8 49.2 0.0 0.0 0.0 0.0 40.1 0.0 9.2 49.2 127.3 0.0 187.7 0.0 187.7 155.9 118.3 0.9 150.9 62.7 170.7 0.0 201.7 0.0 201.7 155.9 123.2 -1.5 167.4 0.0 167.4 338.1 86.2 0.0 0.0 0.0 0.0 74.4 0.0 11.8 86.2 252.2 0.0 453.4 0.0 453.4 155.9 171.4 -1.5 467.3 0.0 467.3 719.5 0.0 150.9 278.2 Reference Items Accounting Standard Shares Outstanding Number of Treasury Shares Future Minimum Operating Lease Obligations Capital Leases - Total Options Granted During Period Options Outstanding at Period End Net Debt Net Debt to Equity Tangible Common Equity Ratio Current Ratio Cash Convers Cycle Number of Employees Source: Bloomberg US GAAP 52.3 20.2 5.1 0.1 0.0 1.0 -87.4 -57.91 49.59 2.27 112.29 699.00 US GAAP 53.0 20.2 7.7 0.1 0.0 0.8 -80.3 47.94 43.93 1.90 133.97 949.00 US GAAP 58.8 20.2 12.8 0.1 6.4 6.5 -349.5 -74.78 62.83 3.36 141.68 1,155.00 Axon Enterprise Inc (AAXN US) - Standardized CAsh flow In Millions of USD except Per Share FY 2017 FY 2018 12 Months Ending 12/31/2017 12/31/2018 Cash from Operating Activities + Net Income 5.2 29.2 + Depreciation & Amortization 8.7 10.6 + Non-Cash Items 19.3 21.9 + Stock-Based Compensation 15.6 21.9 + Deferred Income Taxes 2.8 -3.6 + Other Non-Cash Adj 0.9 3.6 + Chg in Non-Cash Work Cap -14.8 2.2 + (Inc) Dec in Accts Receiv -35.3 -67.6 + (Inc) Dec in Inventories -11.7 14.8 + Inc (Dec) in Other 32.3 55.0 + Net Cash From Disc Ops 0.0 0.0 Cash from Operating Activities 18.5 63.9 -11.7 0.0 0.0 0.0 Cash from Investing Activities + Change in Fixed & Intang + Disp in Fixed & Intang + Disp of Fixed Prod Assets + Disp of Intangible Assets + Acq of Fixed & Intang + Acq of Fixed Prod Assets + Acq of Intangible Assets + Net Change in LT Investment + Dec in LT Investment + Inc in LT Investment + Net Cash From Acq & Div + Cash from Divestitures + Cash for Acq of Subs + Cash for JVs + Other Investing Activities + Net Cash From Disc Ops Cash from Investing Activities -11.4 0.0 0.0 0.0 -11.4 -10.4 -1.0 0.0 0.0 0.0 -10.6 0.0 -10.6 0.0 41.1 0.0 19.1 -11.7 -11.1 -0.6 0.0 0.0 0.0 -5.0 0.0 -5.0 0.0 6.8 0.0 -9.9 0.0 Cash from Financing Activities + Dividends Paid + Cash From (Repayment) Debt + Cash From (Repay) ST Debt + Cash From LT Debt + Re ents of LT Debt + Cash (Repurchase) of Equity + Increase in Capital Stock + Decrease in Capital Stock + Other Financing Activities + Net Cash From Disc Ops Cash from Financing Activities 0.0 0.0 0.0 0.0 0.0 1.4 1.4 0.0 -5.2 0.0 -3.8 0.0 0.0 0.0 0.0 235.8 235.8 0.0 -16.4 0.0 219.3 cashflow Effect of Foreign Exchange Rates 0.7 -0.8 Net Changes in Cash 34.5 272.6 11.5 10.6 Cash Paid for Taxes Cash Paid for Interest 35.5 8.45 5.0 Reference Items EBITDA Trailing 12M EBITDA Margin Net Cash Paid for Acquisitions Tax Benefit from Stock Options Free Cash Flow Free Cash Flow to Equity Free Cash Flow per Basic Share Price to Free Cash Flow Cash Flow to Net Income Source: Bloomberg 21.7 6.32 10.6 0.0 8.1 8.1 0.0 52.7 52.7 0.15 173.53 3.55 0.94 46.78 2.19